Vacon to begin personnel negotiations with office staff in Finland
(Thomson Reuters ONE) - Vacon Plc, Stock Exchange Release, 7 September 2009 at 10.00 am:Vacon is starting negotiations affecting its office personnel inorder to adjust its operations to the weakening of the global market.The need to adjust its operations arises from the decline in ordersand the difficulty in predicting market prospects in the near future.The cost savings being aimed for will not affect customer service,product deliveries or product development.The negotiations will affect some 200 office personnel in thecompany's Finnish operations, but will not affect R&D or salespersonnel. The aim is to agree on measures to adjust businessoperations to bring them in line with the needs of customerindustries. The goal is to find ways of saving costs that will ensurethe company remains competitive and can continue to develop newproducts. Measures being considered include raising efficiency inbusiness operations, reducing the number of office personnel employedunder fixed-term contracts, voluntary leave of absence, part-timework, exchanging holiday pay for time off and laying people off for afixed period. If the targeted savings had to be achieved simply byreducing external services and with lay-offs, it would mean the needto reduce costs by some 30 man-years during 2009-2010."Capital expenditure on energy efficiency has unfortunately fallenalong with the decline in the economy. Since we do not know how longthe uncertainty will prevail in the market, we also have to react fora decline in revenues by cutting costs. We aim to ensure that Vaconis in good shape when capital expenditure starts to pick up again,"comments Vacon Plc President and CEO Vesa Laisi.Vacon employs altogether more than 660 people in Finland, in Vaasa,Tampere and Vantaa.Vacon in briefVacon's operations are driven by a passion to develop, manufactureand sell the best AC drives in the world - and nothing else. ACdrives are used to control electric motors and in renewable energygeneration. Vacon has R&D and production units in Finland, the USA,China and Italy, and sales offices in more than 25 countries. In 2008Vacon had revenues of EUR 293.2 million and globally employed 1,200people. The shares of Vacon Plc (VAC1V) are quoted on the main listof the Helsinki stock exchange.Driven by Drives, www.vacon.comVACON PLCFor more information please contact: * Mr. Vesa Laisi, President and CEO, phone: +358 (0)40 8371 510, between 2.00 pm and 3.30 pm * Mr. Sebastian Linko, Director, Corporate Communications, phone: +358 (0)40 8371 634, between 10.00 am and 2.00 pmDistributionNASDAQ OMX HelsinkiMain mediaFinancial Supervision AuthorityThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 07.09.2009 - 09:01 Uhr
Sprache: Deutsch
News-ID 5534
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